Financing your essential equipment can be a challenging and draining experience for many small business owners.
There’s so much that goes into getting a commercial equipment loan, from finding the right type of finance to figuring out how to get the best rate and ensuring the loan structure meets your needs.
A smarter way of financing is to go through a broker. They will do the hard work for you, from evaluating your financial situation to handling the paperwork and finding the best finance structure to suit your business, whether it is a finance lease, novated lease, operating lease, equipment rental, chattel mortgage or commercial hire purchase.
When it comes to choosing a broker, pick one who is honest with a good reputation and provides quality customer service.
Finding a broker with experience is usually a good way to go, they’ve been around the block and will have great insights to help you avoid pitfalls, find the best finance solution for your purchase and ensure everything is clear and transparent. Another element to keep in mind is a broker’s client retention and service, the better a broker has looked after past clients, the better they’ll look after you. A great way to guarantee you get a good quality broker is by checking out their reviews on Google, Feefo, other review sites and their own website. Usually a business with great service will showcase their results front and centre.
Why Go To A Broker Instead Of Your Bank?
Brokers are now the preferred method for Australians with over 60 per cent choosing to use a Broker over their bank. A good finance broker will have access to a panel of lenders including banks, independent financiers, peer to peer lenders and private lenders, each one having their own credit appetite and policies.
A broker will help you navigate this complex industry by getting to know your business, the asset you are looking to purchase and the structure that you and your accountant have decided on. They act as an intermediary between the client and these lenders to get you the best deal whilst being clear and transparent.
A good finance broker will also help to ensure you maintain your credit rating by understanding each lender’s individual polices ensuring that multiple applications to non-qualifying lenders are minimised. Reducing exposure to one lender may also work in your favour and may reduce the amount of additional collateral you are required to provide and also minimise the hoops you have to jump through.
Overall, a broker’s role is to reduce the time, money and stress involved in purchasing assets or financing working capital, leaving more time and energy for you to concentrate on growing your business. For these reasons, and many others, thousands of small Australian businesses choose Credit One for their equipment finance. Credit One has been in business over 20 years and has well over 600 5-star reviews on Google! In 2019, Credit One provided almost a quarter of a billion dollars in finance solutions to over 8000 happy clients for trucks, tractors, diggers, cars and more! Their easy application process makes financing of any type a breeze. From enquiry to lodgement, approval and settlement, Credit One’s friendly brokers walk you step by step through the entire journey, all the while doing the hard work for you. They’ll handle the paperwork and find you not only the best deal, but the right deal!
Why not see why more and more businesses are choosing Credit One for their finance…
To know more visit www.creditone.com.au